Identify and Avoiding Bubbles (and Screaming Bargains)

The B word is splashed around all over the place these days. Too often, in my view. Bonds are a bubble. Stocks are a bubble. Sydney property is a bubble, too, haven’t you heard? There are, of course, plenty of historical financial bubbles that everyone now agrees on. Think sub-prime lending, tech stocks and tulips. But that agreement only arises ex-post. How do we define and identify a bubble before it bursts? US hedge fund manager Cliff Asness has a nice clean definition that shows you how to identify them. Flipping his approach on its head, it also helps you identify a screaming bargain. Read more on the Bristlemouth blog (VIEW LINK)

Steve Johnson
Founder & Chief Investment Officer

Steve began Forager Funds in 2009, and now manages approximately $350m across two funds. Offering a listed Australian Shares Fund (FOR) and an unlisted International Shares Fund, Steve focuses on long-term investing in undervalued companies.

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